Payment in cash
Devender kumar (MANAGER) (46 Points)
16 August 2016
Sir, pls tell me how much payment we made in cash to a private person and how much through cheque.
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185633 Points)
Replied 16 August 2016
When the payment is of revenue nature, not more than 20K per day per party, otherwise its disallowed. For cheque or banking channel, no limit. For payment of any capital nature, no question of disallowance.
Devender kumar
(MANAGER)
(46 Points)
Replied 17 August 2016
sir please also intimated that if one person claims for his compensation, can it be paid in cash or not ? if yes, then how much amount can be paid in cash. if there any guidelines in this regard.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185633 Points)
Replied 17 August 2016
Please elaborate nature of transaction. What do you mean by "intimated that if one person claims for his compensation"?
Devender kumar
(MANAGER)
(46 Points)
Replied 17 August 2016
it mean that workman compensation can be paid in cash or not? if yes, then hhow much can be paid in cash.?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185633 Points)
Replied 17 August 2016
Again, if you go for deduction against income, the compensation should not exceed Rs. 20000/-
But if the compensation is legal in nature, why you wish to give it by cash?.
Its always better even for the receiver when any such transactions are done thr' Banking chennals.
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